Public Service Proposes $446 Million of New Jersey Solar Plants

Public Service Enterprise Group Inc. (PEG) reached an agreement with state regulatory staff to invest as much as $446 million to build solar-power projects in New Jersey.

The utility plans to spend $247 million on 42 megawatts of solar farms atop landfills and brownfields and another 3 megawatts of smaller projects through a program, Newark, New Jersey-based Public Service said today in a statement. It also will invest as much as $199 million on 97.5 megawatts of new sun-powered systems through a separate program.

The investment will occur over three years, compared with an earlier five-year plan.

The proposal is subject to public comment and the New Jersey Board of Public Utilities is expected to issue a decision by May 31.

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net

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